Licking County News

JEDD board says better financial reporting is needed

By ThisWeek Community News  • 

The Joint Economic Development District in Licking County needs better financial reports, even though the JEDD has revenues of less than $12,000, the district's board determined last week.

The JEDD is a special cooperative tax and expenditure agreement between the city of Pataskala, the city of Newark, Etna and Harrison townships and Licking County. The district includes 500 acres in the Pataskala Corporate Park, which currently has no tenants.

Employees in the JEDD will pay a 1.75 percent income tax and Pataskala's 1 percent income tax.

The JEDD board Feb. 20 tabled a resolution to pay $900 to the Julian and Grube accounting firm of Westerville for a financial statement with notes on any changes in procedures from 2012.

Pataskala Finance Director James Nicholson, who was elected as JEDD treasurer at the meeting, said most cities with small finance departments hire companies to provide that type of report.

JEDD board members decided to table the resolution pending more information on the JEDD contract with the city of Newark. Newark may be required to prepare the report as part of the contract.

Newark is involved in the JEDD because, at the time it was established, Pataskala did not have an income tax. Townships don't collect income taxes, so Newark was chosen as the administrator.

In other business Feb. 20, the JEDD board adopted a budget for 2013, estimating $11,300 in revenue and $11,300 in expenditures.

JEDD members also learned that Chairman Warren Weber, Licking County's development director, is retiring and will have to step down from the board.

He said he is not sure who his replacement will be.

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